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COLONIAL PROPERTY, (CLP) Stock Research Free Stock Rating
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Colonial Properties Trust, a real estate investment trust (REIT), engages in the acquisition, development, ownership, management, and leasing of commercial real estate properties in the United States. As of March 31, 2005, it owned and operated a portfolio of 147 wholly and partially-owned properties, consisting of multifamily, office, and retail properties in Alabama, Arizona, Florida, Georgia, Mississippi, Nevada, New Mexico, North Carolina, South Carolina, Tennessee, Texas, and Virginia. The company also owned interest in 70 multifamily apartment communities, 29 office properties, and 48 retail properties, as of the above date. Colonial Properties Trust elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code. As a REIT, it would not be subject to federal income tax, provided it distributes atleast 90% of taxable income to its shareholders. Colonial Properties Trust is headquartered in Birmingham, Alabama.
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